GDP Growth Lower than Expected

Business › Economy ♦ Published: June 10, 2011; 11:59 ♦ (Vindobona)

Instead of 1.0%, the growth rate in the first quarter was only 0.9%. A plus of 4.2% year-on-year was registered.

GDP Growth Lower than Expected / Picture: © Vindobona.org

According to calculations by the Austrian Institute of Economic Research (Wifo), the Austrian economy is growing slower than expected. Gross domestic product (GDP) increased by 4.2% year-on-year, compared to the last quarter, however, the growth rate amounted to only 0.9%. In its first forecast of mid-May Wifo still expected a rate of 1.0%.

GDP growth for the…

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GDP Gross Domestic Product, Economic Growth, WIFO Austrian Institute of Economic Research
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